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2 mins Read | 3 Weeks Ago

Education Loan for Abroad - Best Education Loan for Abroad Studies

Education Loan for Abroad Studies


Education Loan For Abroad Studies

Aspiring students can realise their aspirations of studying abroad with the extensive range of Education Loans provided by ICICI Bank. ICICI Bank guarantees an easy experience with everything, from pre-admission sanctions and easy digital processes to substantial loan limits. Whether pursuing graduate or undergraduate degrees, ICICI Bank’s Education Loans are available for various academic goals.

Features and benefits: Student Loans for studies abroad 

  • Generous loan limits: Up to ₹ 2 crore for international studies, ensuring substantial financial support for education abroad.
  • Special products for professionals: Tailored loan products for government employees, CXOs and professionals with 2 years of work experience, providing customised financial solutions.
  • Special product offering for select countries: Dedicated loan offerings for students aspiring to study in Canada, UK and Germany, which cater to their specific needs and requirements.
  • Collateral-free loans for premium Institutes: Students enrolled in premium Institutes can avail collateral-free loans of up to ₹ 1 crore, eliminating the need for additional security.
  • No margin requirement for premium Institutes: ICICI Bank offers Education Loans to students in premium Institutes without any margin requirement, ensuring a comprehensive coverage of educational expenses.
  • Complete digital process: Easy loan process with no branch visits, providing applicants with a convenient and hassle-free digital experience, from application to disbursement.
  • Pre-admission sanction: Provision for pre-admission sanction, enabling students to secure financial assistance before finalising their admission, ensuring financial clarity and peace of mind.

Interest rate and charges of an Education Loan for studies abroad

  • Interest rate: ICICI Bank offers competitive interest rates.
  • Loan tenure: The loan tenure for undergraduate courses extends up to 10/12 years, while postgraduate courses can be financed for up to 12/14 years.
  • Maximum loan amount: Students pursuing international courses can avail loans of up to ₹ 2 crore.
  • Collateral requirement: ICICI Bank accepts collateral such as Fixed Deposits, fresh property or cross-collateralisation with existing Mortgage Loans to secure Education Loans.
  • Unsecured loan availability: Unsecured loans of up to ₹ 1 crore are available for undergraduate and postgraduate courses for students attending premium Institutes.
  • Moratorium period: A moratorium period extending the course duration, plus an additional grace period of up to 12 months can be granted.
  • Margin: Premier Institutes do not require a margin, while other category institutes may require a 15% margin, which can be met through FDs, scholarships or initial fees paid to the Institute.

Note: The above information is for illustrative purposes only. ICICI Bank reserves the right to call upon additional information at its discretion.

Eligibility criteria: Education Loan for studies abroad

  • Nationality: Applicants must be Indian nationals, ensuring accessibility to the citizens of India pursuing higher education overseas.
  • Admission confirmation: To qualify for the Education Loan, applicants must provide proof of secured admission or an invitation from an approved university or college for a degree or diploma course abroad.
  • Educational qualification: Applicants must have completed their 10+2 (12th Standard) education.

Documents required for a Student Loan for studies abroad

  • A duly filled online Application Form
  • Passport-size photographs (2)
  • Copy of the 12th standard mark sheet or the latest education certificate as proof of academic qualification
  • Admission letter from the overseas university or college, including the cost of education, if available
  • PAN Card of the student and parent/guardian
  • Residence proof: Any of the following documents - Passport, Driving License, Voter's Identity Card, Job Card issued by NREGA, Letter from National Population Register or Aadhaar Card
  • Age and identity proof: Aadhaar Card, Voter ID, Passport or Driving Licence
  • Income Proof:
    • Most recent salary slips and Form 16 of the parent/guardian/co-borrower
    • The latest 3 months’ bank statements for non-ICICI Bank customers (not required for ICICI Bank customers)
    • Updated Income Tax Returns (ITR) with income computation of the parent/co-borrower/guardian for the last 2 years.

How to apply for an Education Loan to study abroad

To apply for an Education Loan from ICICI Bank, there are multiple convenient options:

  • Visit an ICICI Bank branch:
    • Simply visit any ICICI Bank branch
    • Fill out the required application form
    • Start the loan approval process right away with the assistance of the Bank’s personnel.
  • Apply online:
    • You can apply for the Education Loan online through ICICI Bank's official website
    • Loans are offered for both domestic and international Institutes
    • Various courses are covered, including undergraduate and postgraduate programmes.
  • VidyaLakshmi Portal:
    • Utilise the Vidya Lakshmi portal to apply for Education Loans
    • Access the portal through ICICI Bank's website
    • Follow the provided link to navigate directly to the application process.
  • Pre-approved Education Loan:
    • Existing ICICI Bank customers can check their eligibility for instant sanction of a Student Loan
    • Enjoy the convenience of quick approval without the hassle of paperwork.


1. Can I study abroad on a 100% loan?

Yes, ICICI Bank offers loans of up to ₹ 2 crore for international studies, including unsecured loans of up to ₹ 1 crore for students attending premium Institutes, covering educational expenses comprehensively.

2. What is the eligibility criteria for a Student Loan to study abroad?

To be eligible for a Student Loan abroad from ICICI Bank, applicants must be Indian nationals, have secured admission or an invitation from an approved university or college and completed their 10+2 education.

3. Is availing an Education Loan a good idea?

An Education Loan can be a beneficial option for financing higher studies abroad. It provides access to substantial funds and flexible repayment options and can help students pursue their academic aspirations, without financial constraints.

4. Is it risky to take out a loan and study abroad?

While availing a loan to study abroad involves financial responsibility, it can be a worthwhile investment in one's future. Proper planning, understanding loan terms and evaluating repayment capabilities can ease risks associated with borrowing for educational purposes.


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